Cost of car insurance up more than 30%

According to the latest car insurance price index (CIPI) from EMB, the consultancy, and Confused.com, the average car insurance premium has risen to around £650 per year. Bearing in mind that the figures can never truly be 100% accurate, this equates to a massive jump of between 35 and 37 percent over the past twelve months! Figures released by the AA suggest they saw premiums for comprehensive car cover rise to a national average of £778.13 and that premiums had risen faster than any other time this decade.

Why is that?

No matter how you look at the numbers, rising underwriting losses costs at the insurer are to blame. Comparison sites like moneysupermarket.com, comparethemarket.com and even confused.com cannot hide the fact that you will be paying more for your cover than in recent years. You can shop around, obviously, as I have just done; like me, you will probably still have to pay more than last year.

Read on to find out how to get a discount on your renewal!